Freestanding Office Building with
For Sale
$2,980,000
8510 Bay 16th Street, Brooklyn, NY 11214
COMMERCIAL - Brooklyn, NY
Property Size7,311 SF
Lot Size0.09 Acres
Price / SF$407.60
Days on Market163
Property Features for 8510 Bay 16th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R5/C1-2
Basement
Full, Finished
Subdivision
Bensonhurst
Standard status
Active
Size
7,311 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
45854
Building Details
Year built
1996
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Masonry, Steel
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
(718) 612-3088
Added: Feb 20
Changed: Jul 31
Last Checked: Aug 2 at 6:06AM
MLS# 499099
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Freestanding office building built in 1996 with masonry and steel construction and a flat roof. The property totals approximately 7,311 SF, with the first floor at about 3,111 SF and the second floor and basement each at about 2,100 SF (each approximately 30 by 70 ft). The building sits on a 0.0902-acre lot with a private driveway and includes an elevator from the basement to the top floor. There are 4 separate entrances and multiple building systems, including 5 separate water heaters and 5 independent HVAC systems. Flooring includes tile and hardwood.
The building is currently fully occupied by 5 commercial tenants, including dental and related uses on the first and second floors, a construction company office, and a usable basement occupied by a spice company. The property has a C1-2/R5 zoning overlay (R5/C1-2 zoning).
With separate entrances and dedicated building systems, the layout supports tenant-ready operations across the first floor, second floor, and basement levels.
The building is currently fully occupied by 5 commercial tenants, including dental and related uses on the first and second floors, a construction company office, and a usable basement occupied by a spice company. The property has a C1-2/R5 zoning overlay (R5/C1-2 zoning).
With separate entrances and dedicated building systems, the layout supports tenant-ready operations across the first floor, second floor, and basement levels.
Key Highlights
- Total size approximately 7,311 SF (about 3,111 SF first floor; about 2,100 SF second floor; about 2,100 SF basement)
- 0.0902‑acre lot with a private driveway
- Built in 1996 with masonry and steel construction and a flat roof
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $333.4k | $45.60 |
| − Vacancy | −$65.0k | −$8.89 |
| EGI | $268.4k | $36.71 |
| − OpEx | −$67.1k | −$9.18 |
| NOI | $201.3k | $27.53 |
7,311 SF · lease $45.60/SF/yr · vacancy 19.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.88M
$2.52M – $3.35M
NOI $201,279 @ 7.0% cap · market cap 6.75%
Second Best
Healthcare Medical
$2.30M
$2.02M – $2.69M
NOI $161,202 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$4.26M
$3.73M – $4.98M
NOI $298,541 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building with an elevator, private driveway, and multiple tenants across ground, second, and basement levels.
Where is this office building located?
The property is located at 8510 Bay 16th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,980,000.
What are key features of this property?
This property features: Total size approximately 7,311 SF (about 3,111 SF first floor; about 2,100 SF second floor; about 2,100 SF basement); 0.0902‑acre lot with a private driveway; Built in 1996 with masonry and steel construction and a flat roof
